Daily Close | Forex, Metals, Oil, Agriculture February 25, 2021



In the overnight electronic session, the March corn is currently trading at 557 ½ which is 1 ¾ of a cent lower. The next USDA corn for ethanol use will be on the March 9th report.


But – Silver is also holding up considerably better than Gold, even with a weak US Dollar, as the Gold-Silver ratio continues to plummet. The US Dollar is whipsawing higher in turn as USD price action strengthens aggressively across the board. GBP/USD and AUD/USD have both been hemorrhaging as well with the Pound and Aussie down 110-pips and 76-pips respectively against the US Dollar.


Precious metals like gold and silver have also faced considerable selling pressure amid rising yields. Silver prices have not kept up with the broader commodity space that’s seen some rather outlandish moves in areas like Copper, Lumber or Tin. less It was almost a month ago that I began looking at silver, presenting the potential for a bullish breakout. For Silver prices – the big question is whether buyers are lining up to pose another breakout. The higher the yields, the worse it is for gold, which is a non-interest bearing asset.
Arkadiusz is the author of the monthly Market Overview reports and Gold Monitor News at Sunshine Profits.


In practical terms, the revision clipped Exxon’s future growth prospects until oil prices rise, costs slide, or technological advances to drill in those fields. The company’s reserves of the dense, heavy crude extracted from Western Canada’s sandy bogs dropped 98%. In the overnight electronic session, the April crude oil is currently trading at 6341 which is 19 points higher. Next Wednesday and Thursday OPEC+ meeting may see easing on production cuts.

United States

These changes imply that the Fed will not tighten monetary policy solely in response to a strong labor market, but only to an increase in inflation. The Fed in its latest testimony signaled that it would continue to remain accommodative with its near-zero interest rates and monthly bond purchases. With stock price valuations coming under intensifying scrutiny due to higher Treasury yields, the tech-heavy Nasdaq has underperformed other major equity indices like the Dow or S&P 500.
While the company’s earnings of nine cents per share met Wall Street’ estimates, four analysts issued scathing bear notes. Sponsored Offers Image: Bigstock Wall Street has been witnessing volatility lately driven by surging bond yields, which has sparked inflation fears. Both the Fed and the European Central Bank may intervene to hold down bond yields, according to one Japanese brokerage. There appears a real risk the Fed is not going to be able to sound dovish much longer and that transition could see wider credit spreads.
less It’s been remarkable how well corporate bonds and mortgage REITs like AGNC Investment Corp (Nasdaq: AGNC) have held up amidst the route in Treasury bonds. Estimates compiled by Visible Alpha show Wall Street wasn’t expecting Twitter to hit that level of revenue and users until 2025 and 2027, respectively. The tech-heavy Nasdaq Composite declined furthest, down more than 2.5%.The 10-year Treasury yield rose to a one-year high above 1.6% at one point Thursday.
Moreover, the Fed will seek to achieve inflation that averages two percent over time. But the news did little to shift Wall Street’s opinion on ViacomCBS, which has become sharply divided of late. This is something which we think is inconsistent with Fed dovish rhetoric on rates.” He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more.
“I hate this luring of people into engaging in speculative orgies,” Mr. Munger told The Wall Street Journal from his Los Angeles home. Verizon has pledged $45.5B to secure airwaves for faster wireless service in the FCC’s $81B auctions, The Wall Street Journal’s Drew FitzGerald reported. Also on Wall Street’s radar, this afternoon is another round of jobless data.
Buyers better emerge here or the Fed is about to have a very, very bad day. Anyway, what did the Fed Chair say?